Berry Co. (NASDAQ:BRY) Position Boosted by Creative Planning

Creative Planning lifted its position in Berry Co. (NASDAQ:BRY) by 169.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,332 shares of the energy company’s stock after acquiring an additional 69,435 shares during the period. Creative Planning’s holdings in Berry were worth $567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. acquired a new stake in Berry in the second quarter valued at approximately $25,000. Gladius Capital Management LP bought a new stake in Berry during the 2nd quarter valued at approximately $27,000. CWM LLC increased its position in Berry by 287.4% in the 2nd quarter. CWM LLC now owns 4,560 shares of the energy company’s stock worth $29,000 after buying an additional 3,383 shares during the period. Meeder Asset Management Inc. increased its position in Berry by 43.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,212 shares of the energy company’s stock worth $47,000 after buying an additional 2,186 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Berry in the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 94.88% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler dropped their target price on shares of Berry from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th.

Insiders Place Their Bets

In other news, CEO Fernando Araujo sold 33,950 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $6.22, for a total transaction of $211,169.00. Following the sale, the chief executive officer now directly owns 253,045 shares of the company’s stock, valued at $1,573,939.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

Berry Stock Up 2.2 %

BRY stock opened at $5.20 on Tuesday. The business’s 50-day simple moving average is $5.38 and its 200 day simple moving average is $6.33. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.64. The company has a market cap of $400.08 million, a PE ratio of -12.09 and a beta of 1.72. Berry Co. has a twelve month low of $4.82 and a twelve month high of $8.88.

Berry (NASDAQ:BRY) last announced its quarterly earnings results on Friday, August 9th. The energy company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $197.80 million during the quarter, compared to the consensus estimate of $187.38 million. Berry had a negative net margin of 4.19% and a positive return on equity of 6.69%. The company’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. On average, research analysts anticipate that Berry Co. will post 0.63 earnings per share for the current year.

Berry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.48 annualized dividend and a dividend yield of 9.23%. Berry’s dividend payout ratio is presently -111.63%.

About Berry

Berry Petroleum Company, LLC., formerly Berry Petroleum Company, is an independent energy company. The Company is engaged in the production, development, exploitation, and acquisition of oil and natural gas. The Company’s principal reserves and producing properties are located in California (South Midway-Sunset (SMWSS)-Steam Floods, North Midway-Sunset (NMWSS)-Diatomite, NMWSS-New Steam Floods, Texas (Permian and E.